JohnPaul (JP) Nuzzo

SVP, ABL Portfolio Team Leader, Santander Bank N.A.

40 Under 40 Category: Portfolio/Risk Management

Biography:

JP Nuzzo joined Santander Bank in 2015 as a portfolio manager within the ABL group. In his role at Santander, JP is responsible for all aspects of portfolio management as well as structuring and underwriting new ABL transactions. JP also manages a team of analysts, associates and portfolio managers, providing training and mentoring to junior team members. He has had an extensive career in Asset Based Lending spanning 16 years within several organizations. He started from the ground up at Wells Fargo Capital Finance where he held roles as a collateral analyst, field examiner and relationship manager. Following the completion of his MBA program, JP continued his career within ABL at a private finance company as a senior portfolio manager responsible for structuring and managing numerous credits predominately within the retail sector. 

JP has been an active member of the SFNet and various other finance and banking associations throughout his career. In addition to his involvement in the ABL / Banking community, JohnPaul also assists in coaching youth hockey in Quincy, MA where he resides with his wife and two kids.  He holds both a Bachelor of Science and an MBA from Boston College’s Carroll School of Management. 

What advice do you normally give to the junior talent you mentor?

At Santander, I am the rotation manager for the Commercial Credit Training Program. One piece of advice that I give many of the analysts and associates is to take initiative and drive a process. Don’t wait to be told what to do, but rather raise your hand and ask questions along the way to complete the task at hand. Continually ask questions. It may seem as if you are becoming bothersome to your manager or peers but, if done appropriately, it shows them that you have a vested interest in business. I too often see younger analysts copying and pasting information from a CIM, or 10k into a write-up without truly understanding the meaning behind the request or analysis. Sit with your manager or a senior person in the group, understand what is going on, and frame your own thoughts and analysis. This will go a long way in your learning and development. 

What effect has the COVID crisis had on your professional life? 

This pandemic has surely impacted everyone’s lives both personally and professionally. At the onset, it was certainly a shock as the decision to work from home was made without any certainty around when we would return to the office. While the commute has been great, it was a challenge not seeing your team and colleagues on a regular basis. I do think people are getting somewhat used to this “new norm” and adapting to the situation at hand. I don’t feel as if it has caused any major disruptions in workflow, or managing client requests which is a testament to the great team we have at the bank. I also feel that we have done a good job staying connected with each other through routine calls, pipeline reviews and even Zoom happy hours. That being said, I do look forward to the day where I can grab a few drinks after work with folks from my team and other banks, as this was a common occurrence in the pre-COVID days. 

When interviewing newcomers to the industry, what do you say to pique their interest on why they should accept a position in this industry?

I have had numerous conversations with recent grads, or younger professionals already in the banking Industry about the many benefits of a career in ABL. First and foremost, it’s the variety of industries that this sector of lending spans. Over the course of my career, I have been involved with everything from leather tanneries to food distributors and even manufacturers of nuts and bolts. Aside from making decent conversations at cocktail parties, these experiences broadened my perspective on how the economy functions on a day-to-day basis. As a field examiner, one of my favorite parts of the job was taking a plant tour. Seeing raw materials come in, product being manufactured and finished goods being shipped out to their customers was one of the best experiences you can get. It was almost as if during every field exam, there was an episode of How It’s Made (or sometimes Dirty Jobs) that I was able to experience firsthand. I can’t stress the importance for younger professionals within this industry to get out of the office, meet with their clients, see the facilities where product is stored or manufactured, and ask the right questions. There is a lot behind the numbers on a balance sheet or P&L, and this industry affords you the opportunities to understand what those are.